Tax Collection At Source News
Income tax share from below ₹10 lakh group shrinks over 10 years, high earners dominate
High-income taxpayers now lead the growth in India’s tax receipts, while collections from low-income earners decline.
1 min read14 Nov 2024You can now use TCS credit to reduce the TDS on your salary. Here’s how.
Starting 1 October, salaried individuals can adjust tax collected at source (TCS) payments against the tax deducted at source (TDS) on their salaries, something they could previously do when filing their tax returns.
3 min read24 Oct 2024CBDT to initiate investigation into foreign remittances above ₹6 lakh: Report
The apex body of direct taxes i.e., CBDT is reportedly cracking down on foreign remittances to spot the discrepancies between what taxpayers reveal and the actual remittances.
1 min read13 Aug 2024Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared